Published 11:21 IST, May 9th 2020

COVID-19: Canada’s unemployment rate stands at 13%, the second-highest ever recorded

As approximately three million Canadians reportedly lost their jobs since March, the country recorded its second-highest unemployment rate ever.

World News
3 min read

Follow:

null | Image: self

Amid the unprecedented coronavirus pandemic, approximately three million Canadians reportedly lost their jobs since March which led to the country recording its second-highest unemployment rate ever. According to an international media report, currently, the country’s unemployment rate stands at 13 per cent, however, the statistics Canada said that the rate would be even higher if those who were not actively looking for work were also included.

While addressing the daily news briefing, Trudeau said, "Right now, Canadians are hurting because of this pandemic. Everyone has their own story, but it all boils down to a very difficult time for a lot of people”.

READ: Canada Extends Emergency Wage-subsidy Program

The Canadian Prime Minister on May 8 also announced that the emergency wage subsidy will be extended beyond June to help encourage more employers to keep staff on payroll or to help businesses to re-hire employees who are already laid off. According to reports, nearly 100,000 businesses in Canada have already been approved for up to 75 per cent wage subsidy program. Furthermore, approximately 1.7 million workers are also already keeping their jobs while on the program.

READ: Coronavirus Crisis: Canada To Help Fund Pay Increase Of Essential Workers

Coronavirus outbreak

The Canadian Chamber of Commerce reportedly called the job losses and the increase in unemployment rate ‘staggering’. The camber further also added that the key to reopening the economy will be ‘re-skilling’ businesses and employees. As per reports, the chamber in a statement said that the key question is how quickly businesses can or will re-hire once the economy reopens even when the social distancing requirements remain in place.

Currently, Canada has more than 66,000 confirmed coronavirus cases and the deadly virus has claimed nearly 4,569 lives in the country. In a bid to contain the virus, Canada also developed low-cost serological test kits for COVID-19 testing using algae. According to reports, the kits will be available in the market in a couple of months from now as algae are cheap to grow and can easily be engineered to produce the viral proteins.